4 Erica Street CANTERBURY

Benefits

Higher positional potential for long term growth
Growth above average metro in last decade
Excellent land content as proportion of price
Higher risk as newer precinct
Good area pricing range meaning lower risk on resale

Concerns

Requiring significant additional cash to purchase price
Poor bathroom position
Bathroom no ensuite
Below average master bedroom
Poor flow front to back
Mal James
Mal James
Principal Buyer Advocate
0408 107 988
mal@james.net.au

Comments on 4 Erica Street CANTERBURY

The location is premium Canterbury eg. Golden Mile fringe - only some may say better than Golden Mile as it is a north facing rear.

Easy access to key private and public schools, tram and train - and not really that far from Maling Road Shops.

As well as position, the land for me in A1 on many points - good light with northerly rear, rear lane access, sits proud on the street and house is well positioned on the block.

The issue that any buyer will have to work through is, the building itself. It looks exquisite from the street and it feels really country out the back - but after that, the middle of the home is very much hotchpotch; the floors are wobbly, the bedrooms are small, the plan is a little disjointed flow wise.  It is all very liveable - but it's also very rustic - cold in winter and any renovations other than a paint will be problematical as they will probably uncover more than they fix.

So, if you are going to reno - it will be a major reno. For me the price stacks ok to do that - meaning price paid ($2.5m), plus significant reno $750k won't be over capitalizing ($3.4m) - even though the end result will still be timber. The issue in renovating will be the tree to the north west - it's a native, its substantial and council may refuse to let you chop it down - how will you deal with that?

All in all, if you are happy as is - and you are after a basic home then this is a ripper feel - great position, great land and good price.

Rated as a liveable now with a major renovation in the future.


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3
Bedroom
2
Bathroom
4
Parkings
652sqm
Land Area
Floor Plan Agent

Private Sale

Quote $2,600,000

North Facing

Full James Rating Sheet

Be with James

Would you like to talk to us about finding or negotiating on your next home?
We buy 100 homes for our clients every year.
We buy Inner East and Bayside over $2m.